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The Role of the 2015 Agreement in Mobilising Climate Finance

Author

Listed:
  • Takayoshi Kato

    (OECD)

  • Jane Ellis

    (OECD)

  • Christa Clapp

    (OECD)

Abstract

Shifting public and private investment from “brown” to “green” is an essential part of climate change. The post-2020 climate agreement to be agreed at COP 21 in December 2015 has the potential to play a significant role in signalling the importance of such a shift. This paper explores how the 2015 agreement could spur further mobilisation of climate finance by examining the current state of play regarding existing financing environments and mechanisms. These include examining the existing international institutional arrangements under the UNFCCC to see how balanced financing, co-ordination, streamlining and complementarity between institutions could be achieved. The paper also highlights the key role that in-country enabling environments can play in further mobilising public and private climate finance, and discusses how the 2015 agreement could enhance both “pull” and “push” factors for mobilisation. In addition, the paper also discusses how the agreement could facilitate the broad use of a spectrum of financial instruments and the further development of an enhanced system for measurement, reporting and verification of climate finance. Le rôle de l'accord de 2015 dans la mobilisation de financements climatiques Faire passer les investissements publics et privés du « brun » au vert » est un aspect essentiel de la lutte contre le changement climatique. L’accord sur le climat post-2020 qui doit être adopté à la COP21, en décembre 2015, peut jouer un grand rôle dans ce contexte en mettant en lumière l’importance d’une telle réorientation des investissements. Ce rapport étudie comment l’accord de 2015 pourrait stimuler une mobilisation accrue de financements climatiques. Pour ce faire, il dresse un état des lieux des environnements et des mécanismes de financement existants, en passant en revue les dispositifs institutionnels internationaux en vigueur dans le cadre de la CCNUCC afin de déterminer comment obtenir des financements équilibrés, une coordination, une organisation efficace et une complémentarité entre les institutions. Le rapport met également en évidence l’importance d’un environnement propice à l’intérieur des pays pour intensifier la mobilisation de financements climatiques publics et privés, et examine dans quelle mesure l’accord de 2015 pourrait renforcer les facteurs d’attraction et d’incitation en matière de mobilisation des capitaux. Le rapport décrit également comment l’accord pourrait faciliter un large recours à toute une panoplie d’instruments financiers et faire progresser la mise au point d’un système amélioré de mesure, de notification et de contrôle des financements climatiques.

Suggested Citation

  • Takayoshi Kato & Jane Ellis & Christa Clapp, 2014. "The Role of the 2015 Agreement in Mobilising Climate Finance," OECD/IEA Climate Change Expert Group Papers 2014/7, OECD Publishing.
  • Handle: RePEc:oec:envaab:2014/7-en
    DOI: 10.1787/5js03h9ztlbr-en
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    More about this item

    Keywords

    2015 agreement; accord de 2015; CCNUCC; changement climatique; climate change; climate finance; financement climatique; mobilisation; mobilisation; UNFCCC;
    All these keywords.

    JEL classification:

    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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